News

Hines has entered a joint venture with developers SunCal and Diversified Realty Advisors to construct a luxury suburban multifamily development.

The parcel, also known as the western portion of Block A, encompasses approximately 2.18 acres, with base development capacity of nearly 1,100 residential units and 1.7 million square feet.

The purchase of 217-unit building marks Pacific Urban's third multifamily purchase in the Northeast since the firm established a regional office in New York late last year.

OwnBackup, which has secured nearly $50 million in funding—including a $23.25 million Series C raise earlier this year—has doubled its workforce every year since 2016.

The 899,755-square-foot portfolio combines with Marcus Partners' existing 1.1-million square feet of industrial product in Greater Boston to create a total industrial portfolio of 2 million square feet comprised of eight buildings.

The 450,000-square-foot property is situated within Charlotte's University City submarket.

Originally completed in 1908, 100 Franklin St. formerly served as home to the Boston Safe Deposit and Trust Co. and the Boston Stock Exchange.

The transaction was secured for a joint-venture portfolio by Sino-Ocean Capital and Meridian Senior Living.